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Country's stress level drops and consumer credit counseling may help lower economic strains
By Peggy Stillwell on Jul 10th, 2010
Stress tied to debt difficulties abated a bit across the country, according to a recent report from the Associated Press.
The news organization's Economic Stress Index fell from 10.6 in April to 10.3 in May, the lowest level seen since November of last year. In rating consumer difficulties, the AP considers things such as bankruptcy, foreclosure and unemployment rates in U.S. counties.
A number above 11 on the scale indicates that an area is stressed. Nevada led the way with a mark of 21.75, and was followed by Michigan and California. Rounding out the top five were Florida and Arizona.
However, states like North Dakota, South Dakota and Nebraska all did relatively well, with scores below six on the index.
"Economic stress declined month to month in 33 states in May, aided by lower unemployment," the AP stated.
Consumers who are finding it hard to deal with their debts and are feeling stressed as a result should consider options to deal with their financial problems. One they may look at is consumer credit counseling, which can help them set up a budget.
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